Petrowest Corporation share acquisition of Trans Carrier Ltd. and Trans Carrier Rentals Ltd.

October 17, 2014

Client: Petrowest Corporation

On October 17, 2014, Petrowest Corporation, an Alberta corporation involved in pre-drilling and post-completion energy services as well as industrial and civil infrastructure projects, gravel crushing and hauling for non-energy sector customers, completed its previously announced acquisition of all the shares of each of Trans Carrier Ltd. and Trans Carrier Rentals Ltd. for the purchase price of $11.5 million plus the assumption of approximately $5.5 million of debt (of which $2.5 million of the debt was paid out immediately upon closing of the acquisition). The purchase price was paid with $5.8 million in cash and the issuance of 6,004,376 Class A common shares of Petrowest having a value of $5.7 million (based on a price per share of $0.95).

Norton Rose Fulbright advised Petrowest Corporation on all aspects of the acquisition.  The team was led by Marlene Stewart and included Darren Hribar, Dion Legge, Ed Heakes, Ian Macrae, Gord Van Vliet, Saptarshi Chakraborty, Kyle Johnson, Keldeagh Lindsay and Shelagh Burrowes.